Introduction: Discovering that your corporation has been dissolved can be a distressing situation. However, it’s important to know that under certain circumstances, it may be possible to revive a dissolved corporation in Ontario. This blog post aims to provide insights into the process of reviving a dissolved corporation and the potential options available to you. If you require legal guidance or assistance in reviving a dissolved corporation in Ontario, don’t hesitate to contact Falcon Law PC at 1-877-892-7778 or info@falconlawyers.ca.
Understanding Dissolution and Revival: Dissolution refers to the termination of a corporation’s legal existence. It can occur voluntarily or involuntarily due to various reasons, such as failure to comply with legal requirements, non-payment of fees, or other regulatory violations. Once a corporation is dissolved, it no longer has the capacity to carry on business or exercise its corporate powers.
However, Ontario law provides certain provisions that allow for the revival of a dissolved corporation under specific circumstances. Revival refers to the process of reinstating a dissolved corporation, restoring its legal existence, and allowing it to resume its business operations.
Grounds for Reviving a Dissolved Corporation: To revive a dissolved corporation in Ontario, you must satisfy certain conditions and meet the prescribed legal requirements. The following are common grounds for reviving a dissolved corporation:
- Administrative Revival: If the corporation was involuntarily dissolved due to administrative reasons, such as non-payment of fees or failure to file annual returns, you may have the opportunity to revive it by rectifying the administrative non-compliance. This typically involves paying outstanding fees, filing the necessary documents, and providing any required information to the appropriate government authorities.
- Court Order: In certain cases, reviving a dissolved corporation may require obtaining a court order. This usually applies when the dissolution was due to more complex issues, such as failure to comply with court orders or significant breaches of corporate laws. Reviving a corporation through a court order typically involves presenting a compelling case and demonstrating just cause for revival.
- Voluntary Revival: In some situations, if the dissolution was voluntary or the corporation was dissolved by its members or directors, it may be possible to voluntarily revive the corporation. This process typically involves the unanimous consent of the shareholders or directors and the fulfillment of any outstanding legal requirements.
The Revival Process: The process of reviving a dissolved corporation in Ontario involves specific steps and legal procedures. It is advisable to seek the assistance of a knowledgeable lawyer to ensure compliance with the applicable laws and increase the likelihood of a successful revival. A lawyer can guide you through the following key steps:
- Assessment and Eligibility: A lawyer will review the circumstances surrounding the dissolution of the corporation and assess its eligibility for revival. They will determine the appropriate grounds and legal procedures applicable to your specific situation.
- Preparation of Documents: A lawyer will assist in preparing the necessary documents required for revival, such as applications, affidavits, and supporting evidence. They will ensure accuracy and compliance with the prescribed format and legal requirements.
- Filing and Communication: A lawyer will handle the filing of the revival application and communicate with the relevant government authorities, such as the Ontario Ministry of Government and Consumer Services. They will provide any additional information or respond to inquiries as needed.
- Compliance and Resolution: Throughout the revival process, a lawyer will help address any outstanding issues or non-compliance matters that led to the dissolution. They will work to rectify the underlying reasons for dissolution and ensure full compliance with legal obligations.
Conclusion: While the revival of a dissolved corporation in Ontario is possible under certain circumstances, it is a complex legal process that requires careful consideration and adherence to specific requirements. Seeking the assistance of a knowledgeable lawyer, such as Falcon Law PC, is highly recommended to increase the chances of a successful revival. If you require legal guidance or assistance in reviving a dissolved corporation in Ontario, do not hesitate to contact Falcon Law PC at 1-877-892-7778 or info@falconlawyers.ca. Their experienced team can provide personalized legal advice tailored to your specific situation and guide you through the intricacies of the revival process.
